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Stock to Watch: Rexahn Pharmaceuticals Up 8.8% (RNN)

Feb 04, 2013 (SmarTrend(R) Spotlight via COMTEX) --
Rexahn Pharmaceuticals (AMEX:RNN) is one of today's best performing penny stocks, up 8.8% to $0.36 on 4.7x average daily volume. Thus far today, Rexahn Pharmaceuticals has traded 3.4 million shares, vs. average volume of 721,000 shares per day. The stock has outperformed the Dow (8.8% to the Dow's -0.8%) and outperformed the S&P 500 (8.8% to the S&P's -0.7%) during today's trading.

Rexahn Pharmaceuticals has overhead space with shares priced $0.36, or 76.1% below the average consensus analyst price target of $1.50. The stock should find resistance at its 200-day moving average (MA) of $0.42, as well as support at its 50-day MA of $0.33.

Rexahn Pharmaceuticals, Inc. is a biopharmaceutical company. The Company develops signal inhibitor therapies for cancer, and treatments for central nervous system diseases.

In the past 52 weeks, shares of Rexahn Pharmaceuticals have traded between a low of $0.28 and a high of $0.81 and are now at $0.36, which is 28% above that low price. Over the past week, the 200-day moving average (MA) has gone down 0.8% while the 50-day MA has declined 1.5%.

SmarTrend recommended that its subscribers protect gains by selling shares of Rexahn Pharmaceuticals on November 9th, 2012 by issuing a Downtrend alert when the shares were trading at $0.39. Since that call, shares of Rexahn Pharmaceuticals have fallen 15.4%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Write to Chip Brian at cbrian@mysmartrend.com
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